Levi & Korsinsky Reminds POET Technologies Inc. Investors of the Pending Class Action Lawsuit With a Lead Plaintiff Deadline of June 29, 2026 - POET

Important Information Regarding Section 20(a) Individual Liability Claims Against POET Technologies Executives Who Allegedly Signed False Certifications While Breaching Confidentiality Obligations

NEW YORK, May 6, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP alerts investors in POET Technologies Inc. (NASDAQ: POET) that two senior executives are named as individual defendants in a securities class action covering purchases between April 1, 2026 and April 27, 2026. Find out if you qualify to recover losses or contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.

POET shares lost $7.15 per share, a 47.3% decline, after the Company disclosed the cancellation of all Celestial AI purchase orders due to an alleged confidentiality breach. The Court has set June 29, 2026 as the deadline to apply for lead plaintiff appointment.

The Named Individual Defendants

The complaint identifies Suresh Venkatesan, Chief Executive Officer, and Thomas Mika, Executive Vice President and Chief Financial Officer, as individual defendants under both Section 10(b) and Section 20(a) of the Securities Exchange Act of 1934. The action contends that both officers directly participated in managing the Company, were privy to confidential proprietary information, and were involved in drafting, reviewing, or approving the allegedly misleading public statements at issue.

Sarbanes-Oxley Certification Obligations

Both Venkatesan and Mika signed SOX certifications attached to POET's 2025 Annual Report on Form 20-F, filed March 31, 2026. Under Sections 302 and 906 of the Sarbanes-Oxley Act of 2002, these certifications attested to:

• The accuracy of the Company's financial reporting
• The disclosure of any material changes to internal controls over financial reporting
• The disclosure of all fraud involving management or employees with a significant role in internal controls

The lawsuit asserts these certifications were materially false given what the defendants allegedly knew about the Company's PFIC tax status and the vulnerability of its confidentiality obligations.

Section 20(a) Control Person Framework

Section 20(a) of the Exchange Act imposes liability on individuals who exercise control over persons or entities that violate securities laws. As pleaded in the complaint, both individual defendants:

• Operated and managed the Company at the highest levels during the Class Period
• Controlled the contents of reports, press releases, and public filings disseminated to the market
• Exercised authority that caused the Company to engage in the allegedly wrongful conduct
• Had actual knowledge of material omissions or acted with reckless disregard for the truth

Scienter Allegations

The complaint charges that the individual defendants knew the Company's public statements were materially false and misleading. Specifically, the filing states that Mika was aware he was subject to a non-disclosure agreement with Marvell Semiconductor Inc. at the time he discussed POET's business relationship with Celestial AI and Marvell during an April 21, 2026 public interview. The action claims Venkatesan, as CEO, was privy to the same confidential information and bore responsibility for ensuring accurate disclosures.

"Corporate officers have a duty to ensure their companies' public statements are accurate and complete. When executives sign SOX certifications attesting to the integrity of their disclosures while allegedly aware of material risks to key business relationships, shareholders deserve accountability." -- Joseph E. Levi, Esq.

Submit your information to join the recovery or call (212) 363-7500.

WHY LEVI & KORSINSKY -- Ranked in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, Levi & Korsinsky, LLP is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered hundreds of millions of dollars for investors.

Frequently Asked Questions About the POET Lawsuit

Q: Who are the defendants named in the POET lawsuit? A: The complaint names POET Technologies Inc. and individual defendants including CEO Suresh Venkatesan and CFO Thomas Mika, who signed SEC filings and SOX certifications during the Class Period.

Q: What is the POET lead plaintiff deadline? A: The deadline to apply for lead plaintiff appointment is June 29, 2026. This deadline applies only to investors seeking to serve as lead plaintiff. Class members who do not apply may still participate in any recovery without taking action before this date.

Q: What do POET investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected] or (212) 363-7500. No immediate action is required to remain eligible as a class member.

Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.

Q: What if I already sold my POET shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.

Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. You submit a claim form to receive your portion of recovery.

Q: What court was the POET class action filed in? A: The case was filed in the United States District Court for the District of New Jersey, governed by the Private Securities Litigation Reform Act of 1995.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171

SOURCE Levi & Korsinsky, LLP